Chapter 11

Sharonda Redfield Acct 4111 November 15, 2012 Chapter 11 1. The adjoin and control of materials in the logistics process from the acquirement of young materials to the delivery of finished products to the end user. 3. Continually modify breeding on business risk Analyze capableness motivations to misstate accounts in the acquisition and payment cycle run preliminary analytical procedures to trammel if unexpected relationships exist in the accounts 5. Auditor comp ars client analytics to quondam(prenominal) client per complianceance, industry results, and auditors expectations 7. Pre-numbered requisition form completed and direct to purchasing 9. Promotes efficiency and effectiveness Eliminates effectiveness favoritism Reduces the opportunity for fraud Centralizes control in complete function 11. Purchasing department 13. Proper authorization Completeness of put down Timeliness of recording Correctness of valuation 15. Under- record purchas e, overdo returns, or record to low the amount 17. The auditor should flip management is more likely to Understate rather than overstate expenses differentiate expenses as assets rather than vice versa 19. The auditors main concern is that Accounts collectable will be understated. Therefore, emphasis is placed on examination the completeness assertion 21.

Analytical procedures to find potential misstatements: target and analyze long horse and percentage change in farm animal, apostrophize of goods sold, and expense accounts reason and analyze ratios like enumeration turnover and number of days gross revenue in inventory Prepare common ! sized income statement to identify cost of good sold or expense accounts that are issue of line 23. Variety (diversity) of items High volume of activity assorted (sometimes complex) valuation obstacle in identifying obsolete or faulty inventory Many frauds embarrass the inventory account intimately transportable making it subject to geminate counting may be stored at...If you want to get a serious essay, pasture it on our website: BestEssayCheap.com

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